Bitcoin consuming more energy than Switzerland

July 5, 2019

Source: CBECI

Online currency Bitcoin consumes more energy than the nation
of Switzerland, according to new estimates from University of Cambridge
researchers.

A new online tool from the University of Cambridge – the Cambridge
Bitcoin Electricity Consumption Index – provides a real-time estimate of the
total electricity load and consumption of the Bitcoin network.

Bitcoin consumes electricity through the need to run bitcoin
mining machines, the hardware of which consumes a lot of energy. The more
machines a Bitcoin miner uses, the more likely they are to find Bitcoin.